A Report to the State Board of Equalization and the General Assembly
RESIDENTIAL ASSESSMENT RATE STUDY Final Findings
2017 – 2018 Pursuant to § 39-1-104.2(6) C.R.S. April 17, 2017
SUMMARY The final residential assessment rate estimate for property tax years 2017-2018 is 7.20 percent. This figure replaces the estimate of 6.56 percent found in the preliminary report dated January 13, 2017. The final residential target percentage for property tax years 2017-2018 is 45.76 percent. This figure replaces the preliminary calculation of 43.79 percent. An explanation of the changed target rate percentage calculation is included later in this document. The Division of Property Taxation (Division) would not have been able to conduct either the preliminary or this final report without the cooperation of the county assessors throughout the state at arguably their busiest time during the two-year assessment cycle. Their cooperation and attention to the gathering of this information is critical to the accuracy of this study. The preliminary residential assessment rate estimate was revised upon receiving updated value estimates from county assessors for the following property classes: vacant land, residential, commercial, industrial, agricultural, natural resources and producing mines. Although the final estimates are generally more accurate than the figures shown in the preliminary report, they are still estimates, and in most cases they are different from the values that will be reported later this year on county Abstracts of Assessment. This is particularly true for the oil and gas, producing mines, and natural resource classes. County assessors value the property in these classes after they receive the annual declaration statements from producers. Those statements are due on April 17, 2017. The following table lists the preliminary percentage change estimates reported on January 13, 2017 and the final percentage change estimates found in this report.
2017-2018 Residential Assessment Rate April 17, 2017 Page 2
Property Class Residential Non-Residential Vacant Commercial Industrial Agricultural Natural Resources Producing Mines Oil and Gas State Assessed
Department of Local Affairs Division of Property Taxation
Preliminary 2017 Estimates 18.00%
Final 2017 Estimates 20.80%
7.50% 11.60% 7.20% 8.70% -5.10% -12.00% 8.30% 3.00%
17.00% 17.50% 10.90% 10.10% -1.30% -14.10% 8.30% 3.00%
The attached addenda show the calculations of the target percentage and residential assessment rate, as well as much of the data used in the calculations. The addenda are described as follows: Addendum A: 2017 Residential Target Percentage Calculation The target percentage from the 2015 residential rate study, 45.67 percent, is adjusted to account for the addition of residential and non-residential new construction and changes in natural resource production. The new residential target percentage is 45.76 percent. The new construction and natural resource production change figures are calculated in Addenda G through O, which are available upon request. Unlike the calculation of the residential rate itself, the adjustment to the target percentage is based on known prior year values as reported on county Abstracts of Assessment. Addendum B: 2017 Residential Assessment Rate Calculation The residential assessment rate shown on Addendum B is the estimate of the residential assessment rate that would achieve a statewide total assessed value consisting of 45.76 percent residential property value and 54.24 percent non-residential property value. Addendum C: Totals from 2016 Abstracts Addendum C shows the assessed values reported last year by county assessors on their 2016 Abstracts of Assessment. Addendum D: 2017 Estimated Values Addendum D displays 2017 value estimates provided by county assessors and those estimated by the Division. By early April, most assessors had nearly completed their reappraisals of real property and were able to provide the Division with new estimated real property values in dollar amounts. Counties that had not yet completed their reappraisals provided new value estimates as percentage figures, which were converted into dollar amounts. For the
2017-2018 Residential Assessment Rate April 17, 2017 Page 3
Department of Local Affairs Division of Property Taxation
commercial and industrial classes, the real property estimates were combined with personal property estimates to produce the values shown on this addendum. Because counties do not yet have the information they need to value personal property, the Division used an estimated increase of 2.5 percent unless the county provided a different figure. Counties also do not yet have the information they need to revalue the real and personal property classified as natural resources, producing mines and oil and gas. They generally provided percentage change estimates for natural resources and producing mines, and the Division estimated a statewide increase of 8.3 percent for oil and gas. The oil and gas estimate was developed using production data obtained from the Colorado Oil and Gas Conservation Commission, U.S. Energy and Information Administration and Colorado Legislative Council after consulting with oil and gas experts and county assessors. The Division also updated its estimate of state assessed property, calculating a statewide increase of 3.0 percent for the state assessed property class. Addendum E: Projected Rates of Change This addendum shows the percentage change between the 2016 abstract values shown on Addendum C and the 2017 projected values shown on Addendum D. Updated: Target Percentage Calculation As instruction for determining the target percentage, section 3(b) of article X of the Colorado Constitution requires that “For each subsequent year, the general assembly shall again determine the percentage of the aggregate statewide valuation for assessment which is attributable to each class of taxable property, after adding the increased valuation for assessment attributable to new construction and to increased volume of mineral and oil and gas production” (emphasis added). The difference between the preliminary and final target percentage is the method used to adjust for the increased volume of mineral and oil and gas production. In the preliminary study the Division focused on isolating the “increased volume” to make the required adjustment for determining the target percentage. This was accomplished by identifying the change in volume between 2014 and 2016 and multiplying that amount by the 2014 average assessed value per unit of production. However, an unusual circumstance occurred in the previous reassessment cycle as the volume of oil and gas production increased, but because prices declined, the valuation for assessment decreased. This caused the Division to take a closer look at the constitutional requirements for developing the target percentage. As a result of this scrutiny it became obvious that the adjustment for increased volume of mineral and oil and gas production should only be made when there is increased valuation for assessment attributable to that increased volume. On April 13th of this year the State Board of Equalization (Board) met to review and discuss this issue. After a thorough presentation by JoAnn Groff, the Property Tax Administrator, and questions from the Board, no objections were raised to this change in methodology.
2017-2018 Residential Assessment Rate April 17, 2017 Page 4
Department of Local Affairs Division of Property Taxation
2017 RESIDENTIAL TARGET PERCENTAGE CALCULATION
ADDENDUM A
STEP #1: Calculate the 2015 residential assessed value that would have achieved the 2015 target percentage. ESTIMATED 2015 RESIDENTIAL ASSESSED
X
0.4566712232
---------------------ACTUAL 2015 NON-RESIDENTIAL ASSESSED
$58,899,312,842
=
-------------------0.5433287768 1.0000000000
ESTIMATED 2015 RESIDENTIAL ASSESSED
X =
$49,505,239,536
The target percentages show n in step #1 are the non-rounded versions of the target percentages enacted into law in 2015. The figure $58,899,312,842 is the total non-residential taxable value reported on county abstracts in 2015. The figure $49,505,239,536 is the hypothetical residential assessed value that w ould have exactly achieved the 2015 target percentage.
STEP #2: Add 2015 + 2016 net new construction and increased production to the 2015 res. and non-res. totals. 2015 Net Residential New Construction
$719,553,040
Addendum G
2016 Net Residential New Construction
$812,701,458
Addendum G
TOTAL RESIDENTIAL NEW CONSTRUCTION ESTIMATED 2015 RESIDENTIAL
$1,532,254,498 $49,505,239,536
ADJUSTED TOTAL RESIDENTIAL
$51,037,494,034
2015 Net Other New Construction
$732,237,027
Addendum G
2016 Net Other New Constuction 2016 - 2014 Net Mines
$860,836,763 $0
Addendum G Addendum H
2016 - 2014 Net Coal
$0
2016 - 2014 Net Earth & Stone
$3,311,562
2016 - 2014 Net Oil & Gas
$0
TOTAL NON-RESIDENTIAL NEW CONST. & PROD.
Addendum I Addendum J Sum of Addenda K - O
$1,596,385,352
ACTUAL 2015 NON-RESIDENTIAL
$58,899,312,842
ADJUSTED TOTAL NON-RESIDENTIAL
$60,495,698,194
109,936,806,876
STEP #3: Calculate the 2017 target percentages from 2015 values adjusted for new construction and production. ADJ 2015 RES ASSESSED ADJ 2015 OTHER ASSESSED
51,037,494,034 ---------------------
45.75991507% = -----------------------
60,495,698,194
54.24008493%
45.76% OR 54.24%
2017-2018 Residential Assessment Rate April 17, 2017 Page 5
Department of Local Affairs Division of Property Taxation
2017 RESIDENTIAL ASSESSMENT RATE CALCULATION
Estimated 2017 Non-Residential Assessed $61,240,504,937
Non-Res Target % 54.24008493%
Addendum F
Addendum A
Total Assessed Target Value
Residential Target %
$112,906,358,852
X
ADDENDUM B
45.75991507%
Total Assessed Target Value =
$112,906,358,852
Residential Assessed Target Value =
$51,665,853,915
=
Residential Assessment Rate 7.204089458340% 7.20%
Addendum A
Residential Assessed Target Value $51,665,853,915
Estimated 2017 Residential Actual Value $717,173,963,672 Addendum F
rounded
2017-2018 Residential Assessment Rate April 17, 2017 Page 6
Department of Local Affairs Division of Property Taxation
TOTALS FROM 2016 COUNTY ABSTRACTS OF ASSESSMENT COUNTY Adams
VAC $126,361,990
RES $2,443,446,830
COM $2,029,634,480
IND
ADDENDUM C
AGR
NAT
MIN
O&G
$282,305,090
$30,906,270
$5,033,570
$0
STA
$62,731,670
$568,846,600
TOTAL $5,549,266,500
Alamosa
$13,690,715
$54,990,633
$52,475,676
$1,226,039
$20,954,021
$195,804
$0
$0
$24,920,300
$168,453,188
Arapahoe
$178,409,908
$4,874,504,552
$3,519,405,327
$36,968,269
$16,338,886
$597,355
$0
$76,196,943
$426,031,500
$9,128,452,740
Archuleta
$57,804,790
$155,651,950
$48,061,900
$1,256,000
$7,192,970
$174,060
$0
$17,145,980
$9,412,500
$296,700,150
Baca
$476,652
$7,594,326
$6,527,348
$70,360
$24,118,956
$1,271,672
$0
$2,401,568
$48,273,800
$90,734,682
Bent
$491,837
$7,790,725
$18,951,141
$253,294
$19,348,280
$748,354
$0
$441,513
$37,503,500
$85,528,644
$192,185,622
$3,883,236,276
$2,100,093,569
$497,286,418
$19,049,750
$1,382,433
$20,735
$6,750,603
$199,002,309
$6,899,007,715
Broomfield
$38,025,670
$609,226,180
$511,725,760
$66,398,800
$510,500
$8,520
$0
$3,236,280
$79,081,800
$1,308,213,510
Chaffee
$49,403,900
$198,297,510
$95,061,110
$10,675,550
$5,614,770
$4,209,960
$0
$0
$27,293,900
$390,556,700
$293,303
$5,007,799
$8,763,764
$445,432
$27,707,557
$5,266,737
$0
$46,964,817
$25,772,000
$120,221,409
$19,807,870
$104,359,350
$28,078,790
$239,880
$132,070
$8,530,290
$335,975,320
$0
$22,069,700
$519,193,270
Conejos
$8,939,541
$31,515,248
$5,823,901
$1,135,770
$16,876,715
$134,970
$0
$0
$4,719,800
$69,145,945
Costilla
$72,890,106
$15,143,208
$5,517,172
$1,383,044
$12,683,075
$398,544
$0
$0
$7,955,200
$115,970,349
$318,430
$6,215,842
$23,059,599
$10,671
$5,076,024
$410,122
$0
$0
$10,361,400
$45,452,088
$24,319,620
$58,026,410
$7,778,120
$257,640
$5,874,980
$645,520
$0
$0
$5,848,600
$102,750,890
Boulder
Cheyenne Clear Creek
Crowley Custer Delta Denver
$18,206,738
$145,490,828
$60,356,838
$7,619,966
$19,837,446
$19,466,494
$0
$2,333,783
$39,732,800
$313,044,893
$186,773,880
$6,100,165,494
$7,230,415,910
$262,193,210
$138,280
$0
$0
$0
$920,535,100
$14,700,221,874
Dolores
$5,483,652
$12,467,866
$4,310,802
$217,398
$4,198,782
$613,450
$0
$107,215,973
$11,443,400
$145,951,323
Douglas
$222,267,540
$3,436,669,150
$1,647,861,770
$131,203,320
$18,433,810
$369,560
$0
$0
$246,344,700
$5,703,149,850
Eagle
$133,054,630
$2,131,941,370
$652,747,980
$10,198,900
$8,682,120
$887,920
$471,250
$0
$94,236,800
$3,032,220,970
El Paso
$272,932,150
$3,979,399,440
$2,105,260,060
$238,227,180
$14,181,580
$6,020,800
$0
$0
$340,287,600
$6,956,308,810
Elbert
$14,032,480
$201,414,590
$24,063,160
$1,342,270
$19,793,360
$1,254,400
$0
$2,913,910
$39,377,900
$304,192,070
Fremont
$43,432,500
$193,553,980
$79,828,490
$48,208,420
$7,975,680
$6,795,160
$0
$1,411,910
$52,662,000
$433,868,140
Garfield
$92,077,070
$491,766,250
$309,104,140
$11,170,920
$14,502,930
$2,718,160
$601,260
$1,185,541,130
$107,387,100
$2,214,868,960
Gilpin
$41,218,340
$59,088,800
$238,419,970
$146,720
$319,510
$9,338,130
$0
$0
$11,410,910
$359,942,380
Grand
$91,593,070
$358,973,750
$84,768,310
$60,606,330
$8,754,380
$410,650
$11,473,050
$0
$44,570,000
$661,149,540
Gunnison
$96,046,390
$312,088,590
$93,285,790
$2,932,130
$9,796,410
$55,091,430
$115,600
$10,213,120
$13,513,300
$593,082,760
Hinsdale
$20,343,890
$31,839,170
$10,239,400
$76,110
$636,980
$480,720
$59,460
$0
$866,500
$64,542,230
Huerfano
$15,345,347
$41,022,593
$15,495,968
$491,440
$7,932,634
$481,221
$0
$6,435,336
$37,664,800
$124,869,339
Jackson Jefferson
$1,846,665
$10,135,001
$4,186,996
$1,968,485
$11,960,256
$212,609
$0
$12,293,168
$3,374,880
$45,978,060
$197,316,600
$5,146,975,631
$2,307,555,911
$260,165,070
$10,504,358
$667,894
$361,588
$0
$347,108,700
$8,270,655,752
Kiowa
$116,200
$2,303,870
$5,554,040
$0
$19,769,220
$1,272,490
$0
$5,700,920
$3,436,600
$38,153,340
Kit Carson
$728,428
$24,522,343
$40,160,658
$1,172,145
$43,494,367
$1,073,223
$0
$552,939
$48,595,500
$160,299,603
$139,980,310
$633,797,320
$375,756,920
$21,557,350
$13,928,640
$10,461,760
$0
$542,301,490
$79,635,100
$1,817,418,890
$18,756,744
$49,113,956
$10,706,555
$663,447
$246,601
$1,367,499
$112,016,956
$0
$18,097,900
$210,969,658
$181,422,690
$2,790,234,717
$1,500,439,824
$419,577,583
$24,529,068
$5,425,958
$0
$6,438,933
$130,104,600
$5,058,173,373
La Plata Lake Larimer Las Animas
$12,364,210
$57,666,930
$31,709,170
$2,729,070
$20,007,610
$8,561,050
$0
$98,959,480
$98,276,740
$330,274,260
Lincoln
$1,339,423
$11,566,964
$14,525,608
$215,414
$23,890,993
$1,663,993
$0
$39,035,274
$72,807,400
$165,045,069
Logan
$2,387,240
$65,551,370
$43,711,870
$24,560,310
$61,317,430
$402,940
$0
$6,788,400
$117,330,800
$322,050,360
Mesa
$81,687,130
$848,822,070
$510,420,660
$97,889,130
$33,395,660
$3,349,040
$66,260
$133,274,900
$137,756,600
$1,846,661,450
Mineral
$9,203,376
$19,806,102
$9,160,239
$107,984
$1,393,949
$323,178
$0
$0
$1,611,400
$41,606,228
Moffat
$9,332,260
$54,211,320
$39,969,856
$1,532,036
$9,679,501
$38,462,769
$149,569
$46,624,420
$208,182,200
$408,143,931
Montezuma
$19,375,020
$125,488,960
$67,640,180
$15,101,380
$17,752,200
$915,960
$0
$348,194,560
$50,352,920
$644,821,180
Montrose
$29,499,840
$224,870,540
$144,021,721
$26,886,708
$27,538,440
$4,097,295
$174,400
$0
$60,086,400
$517,175,344
Morgan
$5,098,280
$99,826,100
$64,195,400
$64,422,730
$51,361,760
$112,180
$0
$9,252,000
$226,637,600
$520,906,050
Otero
$1,417,378
$41,810,847
$27,552,979
$4,075,158
$24,736,226
$216,642
$0
$0
$49,998,200
$149,807,430
Ouray
$34,069,880
$81,471,830
$25,187,060
$468,540
$4,447,390
$4,854,960
$0
$0
$7,007,900
$157,507,560
$116,862,540
$221,827,220
$30,938,001
$790,760
$8,621,270
$3,989,130
$112,410
$0
$27,356,800
$410,498,131
$419,620
$17,144,640
$18,889,800
$226,640
$39,941,620
$356,459
$0
$4,800,610
$6,653,300
$88,432,689
$201,485,500
$2,046,748,130
$655,877,150
$716,390
$7,239,800
$3,620,730
$0
$0
$29,884,800
$2,945,572,500
Park Phillips Pitkin Prowers
$632,619
$24,329,265
$24,183,595
$3,576,056
$34,905,077
$1,723,634
$0
$1,131,547
$38,248,700
$128,730,493
$50,591,076
$600,078,413
$306,189,075
$226,376,262
$18,476,844
$3,004,813
$0
$0
$514,857,300
$1,719,573,783
Rio Blanco
$5,174,950
$40,447,210
$24,369,610
$280,156,900
$15,256,050
$36,948,270
$0
$391,989,620
$94,022,500
$888,365,110
Rio Grande
$23,091,690
$66,833,399
$44,346,710
$2,246,605
$25,315,703
$274,457
$0
$0
$19,346,100
$181,454,664
Routt
$98,647,190
$569,689,300
$227,254,470
$5,820,710
$25,277,510
$33,040,160
$0
$2,831,080
$115,153,400
$1,077,713,820
Saguache
$11,130,650
$24,573,200
$6,949,050
$775,430
$16,694,800
$1,229,870
$0
$0
$6,751,900
$68,104,900
San Juan
$11,437,163
$10,782,359
$8,383,854
$541,306
$10,468
$8,660,383
$0
$0
$2,996,900
$42,812,433
$168,621,210
$472,873,550
$105,572,420
$2,975,470
$8,294,170
$3,316,120
$0
$10,236,080
$23,398,900
$795,287,920
Pueblo
San Miguel Sedgwick
$120,330
$5,709,290
$3,907,650
$218,620
$23,486,270
$106,560
$0
$184,650
$27,201,500
$60,934,870
$139,358,807
$1,156,884,661
$362,543,172
$43,902,065
$1,584,058
$856,096
$0
$0
$41,519,600
$1,746,648,459
$68,167,390
$207,380,170
$85,569,750
$4,057,450
$1,791,960
$1,812,230
$113,876,810
$0
$22,094,700
$504,750,460
$198,799
$10,879,476
$4,066,255
$593,462
$40,905,392
$1,294,701
$0
$14,544,009
$49,352,500
$121,834,594
Weld
$65,121,730
$1,512,457,660
$807,190,570
$797,611,590
$182,774,260
$18,552,840
$0
$5,004,338,010
$808,091,200
$9,196,137,860
Yuma
$1,337,410
$33,579,050
$29,678,530
$5,632,900
$75,450,790
$869,160
$0
$37,341,990
$55,218,600
$239,108,430
$3,993,857,727 $1,273,548,437
$336,033,059
$575,474,668
Summit Teller Washington
Grand Total
$3,744,567,979
$47,261,281,574 $28,985,481,554
$8,248,748,616 $6,999,675,959 $101,418,669,573
2017-2018 Residential Assessment Rate April 17, 2017 Page 7
Department of Local Affairs Division of Property Taxation
2017 ESTIMATED VALUES
ADDENDUM D
(With Residential at 7.96 percent)
COUNTY Adams
VAC $210,790,950
RES $3,256,040,500
COM $2,163,511,670
IND
AGR
NAT
MIN
$292,435,990
$34,032,170
$5,022,680
$0
O&G $67,938,399
STA $585,911,998
TOTAL $6,615,684,356
Alamosa
$13,979,993
$54,782,914
$57,293,030
$1,252,905
$22,389,588
$196,500
$0
$0
$25,667,909
$175,562,838
Arapahoe
$202,560,436
$6,137,453,730
$4,227,114,808
$42,750,979
$16,963,122
$597,823
$0
$82,521,289
$438,812,445
$11,148,774,632
Archuleta
$58,027,507
$188,553,704
$49,075,727
$1,383,646
$8,400,867
$176,882
$0
$18,569,096
$9,694,875
$333,882,305
Baca
$439,600
$7,678,370
$6,838,748
$64,449
$25,831,400
$1,274,590
$0
$2,600,898
$49,722,014
$94,450,070
Bent
$492,000
$8,336,070
$18,983,420
$255,186
$21,007,500
$740,000
$0
$478,159
$38,628,605
$88,920,940
$224,254,656
$4,786,175,196
$2,827,732,338
$741,178,335
$19,407,153
$1,595,092
$42,498
$7,310,903
$204,972,378
$8,812,668,550
Broomfield
$42,320,640
$742,254,715
$542,813,311
$74,547,579
$556,880
$10,700
$0
$3,504,891
$81,454,254
$1,487,462,971
Chaffee
$65,451,890
$234,939,580
$97,390,880
$10,656,570
$5,565,300
$4,500,250
$0
$0
$28,112,717
$446,617,187
$282,858
$5,079,438
$8,771,419
$445,432
$28,000,000
$5,399,577
$0
$50,862,897
$26,545,160
$125,386,781
Clear Creek
$20,800,500
$119,630,000
$28,137,248
$245,348
$132,070
$8,758,902 $271,084,980
$0
$22,731,791
$471,520,839
Conejos
$10,368,625
$31,550,317
$5,757,516
$1,117,133
$17,518,129
$86,797
$0
$0
$4,861,394
$71,259,911
Costilla
$75,003,919
$15,900,368
$5,591,717
$1,438,388
$13,228,447
$391,769
$0
$0
$8,193,856
$119,748,464
$311,654
$4,873,792
$23,094,274
$10,671
$4,685,000
$412,758
$0
$0
$10,672,242
$44,060,391
$24,091,960
$59,216,720
$7,856,657
$230,076
$6,378,630
$670,350
$0
$0
$6,024,058
$104,468,451
Boulder
Cheyenne
Crowley Custer Delta Denver
$22,567,500
$155,064,750
$54,377,782
$6,388,520
$25,652,300
$14,478,475
$0
$2,527,487
$40,924,784
$321,981,597
$255,970,000
$7,894,900,000
$8,730,931,001
$302,993,582
$86,200
$0
$0
$0
$948,151,153
$18,133,031,936
Dolores
$5,465,503
$12,784,905
$4,163,184
$216,361
$4,480,432
$611,936
$0
$116,114,899
$11,786,702
$155,623,922
Douglas
$307,678,720
$4,041,258,360
$1,927,046,123
$162,288,064
$16,390,020
$338,326
$0
$0
$253,735,041
$6,708,734,654
Eagle
$153,860,636
$2,382,791,658
$810,605,094
$10,546,087
$8,251,135
$878,014
$0
$0
$97,063,904
$3,463,996,529
El Paso
$373,814,310
$4,526,701,150
$2,581,493,735
$245,488,968
$14,649,700
$5,339,885
$0
$0
$350,496,228
$8,097,983,976
Elbert
$15,275,000
$262,750,000
$24,743,405
$1,381,338
$21,400,000
$1,275,000
$0
$3,155,765
$40,559,237
$370,539,745
Fremont
$44,300,000
$220,000,000
$79,359,646
$49,480,266
$8,500,000
$6,814,374
$0
$1,529,099
$54,241,860
$464,225,245
Garfield
$102,615,170
$568,076,300
$320,696,482
$11,374,327
$16,330,130
$2,779,868
$622,000 $1,283,941,044
$110,608,713
$2,417,044,034
Gilpin
$39,728,973
$67,814,838
$274,033,523
$166,900
$329,195
$9,338,130
$0
$0
$11,753,237
$403,164,797
Grand
$101,686,180
$404,089,480
$85,374,370
$60,610,040
$9,061,090
$442,840
$11,473,050
$0
$45,907,100
$718,644,150
Gunnison
$107,590,000
$358,926,000
$93,287,000
$2,932,000
$9,803,000
$55,719,000
$115,600
$11,060,809
$13,918,699
$653,352,108
Hinsdale
$20,142,590
$31,366,730
$10,272,470
$76,155
$636,980
$480,720
$103,795
$0
$892,495
$63,971,935
Huerfano
$17,620,154
$39,333,200
$15,238,806
$652,687
$8,540,396
$481,212
$0
$6,969,469
$38,794,744
$127,630,668
Jackson
$1,846,665
$10,945,801
$4,201,817
$2,019,359
$12,319,064
$212,609
$0
$13,313,501
$3,476,126
$48,334,941
Jefferson
$232,241,638
$6,320,486,075
$2,836,160,380
$270,304,212
$11,449,750
$601,105
$361,588
$0
$357,521,961
$10,029,126,710
Kiowa Kit Carson La Plata Lake Larimer Las Animas
$87,000
$2,420,000
$5,225,000
$0
$20,543,000
$1,305,000
$0
$6,174,096
$3,539,698
$39,293,794
$982,000
$25,279,500
$27,468,186
$1,188,985
$52,310,000
$1,073,000
$0
$598,833
$50,053,365
$158,953,869
$146,979,326
$665,487,186
$394,223,844
$22,419,644
$18,803,664
$10,234,357
$0
$587,312,514
$82,024,153
$1,927,484,687
$17,256,200
$55,007,600
$11,497,477
$663,955
$246,601
$1,368,313
$98,107,224
$0
$18,640,837
$202,788,208
$216,259,800
$3,408,433,000
$1,650,621,000
$398,719,570
$27,083,844
$5,106,247
$0
$6,973,364
$134,007,738
$5,847,204,563
$12,324,746
$57,617,348
$31,987,220
$2,728,321
$22,545,398
$8,555,141
$0
$107,173,117
$101,225,042
$344,156,333
Lincoln
$1,339,423
$12,347,558
$14,525,608
$217,592
$26,515,979
$1,661,897
$0
$42,275,202
$74,991,622
$173,874,881
Logan
$2,617,250
$73,330,350
$45,891,280
$25,487,347
$65,369,848
$397,950
$0
$7,351,837
$120,850,724
$341,296,586
Mesa
$71,903,270
$933,567,260
$515,486,328
$107,479,016
$35,957,830
$3,482,484
$0
$144,336,717
$141,889,298
$1,954,102,202
Mineral
$9,194,353
$19,806,102
$9,276,614
$109,440
$1,435,767
$323,178
$0
$0
$1,659,742
$41,805,196
Moffat
$9,274,950
$54,235,860
$39,915,519
$1,427,930
$9,724,771
$38,467,293
$149,569
$50,494,247
$214,427,666
$418,117,805
Montezuma
$19,369,080
$107,196,890
$74,022,069
$17,017,110
$35,738,090
$915,500
$0
$377,094,708
$51,863,508
$683,216,955
Montrose
$32,007,326
$254,103,710
$143,372,190
$27,301,372
$31,118,437
$4,162,182
$174,400
$0
$61,888,992
$554,128,610
Morgan
$5,710,070
$114,384,200
$66,426,057
$67,027,326
$49,462,580
$112,324
$0
$10,019,916
$233,436,728
$546,579,202
Otero
$1,388,803
$42,100,840
$29,595,228
$4,893,997
$28,228,397
$196,593
$0
$0
$51,498,146
$157,902,004
Ouray
$30,492,840
$89,076,750
$28,699,822
$1,449,166
$5,504,290
$6,777,332
$0
$0
$7,218,137
$169,218,338
$122,459,670
$256,574,860
$33,931,460
$901,770
$8,819,370
$4,559,140
$104,740
$0
$28,177,504
$455,528,514
$464,670
$18,731,230
$20,992,040
$300,479
$46,471,410
$339,777
$0
$5,199,061
$6,852,899
$99,351,565
$210,824,300
$2,370,760,590
$733,624,943
$680,920
$8,413,980
$5,236,530
$0
$0
$30,781,344
$3,360,322,607
Park Phillips Pitkin Prowers
$632,619
$26,032,314
$24,583,771
$3,670,301
$47,121,854
$1,599,648
$0
$1,225,465
$39,396,161
$144,262,133
$51,000,000
$666,000,000
$309,411,626
$232,487,982
$19,000,000
$3,054,466
$0
$0
$530,303,019
$1,811,257,093
Rio Blanco
$5,278,550
$40,849,010
$24,122,892
$291,057,199
$15,790,530
$37,529,641
$0
$424,524,758
$96,843,175
$935,995,755
Rio Grande
$21,635,598
$73,338,569
$45,265,452
$2,755,537
$28,880,196
$284,700
$0
$0
$19,926,483
$192,086,535
$109,600,000
$631,400,000
$267,937,700
$7,378,500
$18,150,000
$27,708,900
$0
$3,066,060
$118,608,002
$1,183,849,162
Saguache
$10,653,244
$23,821,465
$6,746,286
$767,726
$17,354,676
$1,259,765
$0
$0
$6,954,457
$67,557,618
San Juan
$12,767,123
$11,517,167
$10,411,633
$431,581
$11,723
$9,084,741
$0
$0
$3,086,807
$47,310,775
$185,562,060
$522,368,090
$115,599,630
$3,358,360
$8,425,070
$3,303,570
$0
$11,085,675
$24,100,867
$873,803,322
Pueblo
Routt
San Miguel Sedgwick
$121,550
$6,329,037
$3,984,770
$220,370
$25,224,777
$103,940
$0
$199,976
$28,017,545
$64,201,965
$164,722,110
$1,365,123,900
$406,986,707
$45,157,339
$1,726,623
$856,096
$0
$0
$42,765,188
$2,027,337,962
$62,048,729
$227,609,735
$85,610,228
$4,078,625
$1,577,290
$517,604,944
$200,000
$12,728,986
$4,112,158
$615,375
$44,995,900
$1,295,000
Weld
$92,411,140
$1,935,842,130
$916,243,930
$857,501,113
$206,200,727
$18,990,040
Yuma
$1,443,230
$33,871,610
$38,664,891
$6,045,900
$81,053,530
$955,200
Summit Teller Washington
TOTALS
$1,769,085 $112,153,711
$0
$22,757,541
$15,751,162
$50,833,075
$130,531,655
$0 $5,419,698,065
$832,333,936
$10,279,221,082
$56,875,158
$259,350,894
$4,380,591,257 $57,087,047,508 $34,058,411,141 $4,430,471,400 $1,401,781,800 $331,695,195 $494,493,155 $8,933,394,751 $7,209,666,238
$118,327,552,445
$0 $0
$40,441,375
2017-2018 Residential Assessment Rate April 17, 2017 Page 8
Department of Local Affairs Division of Property Taxation
PROJECTED RATES OF CHANGE
ADDENDUM E
Red font = Percentage estimates provided by county or developed from consultation with county in April 2017 Green font = Statewide estimates by DPT.
COUNTY
VAC
RES
COM
IND
AGR
NAT
MIN
O&G
STA
TOTAL
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle El Paso Elbert Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose Morgan Otero Ouray Park Phillips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma
66.8% 2.1% 13.5% 0.4% -7.8% 0.0% 16.7% 11.3% 32.5% -3.6% 5.0% 16.0% 2.9% -2.1% -0.9% 24.0% 37.0% -0.3% 38.4% 15.6% 37.0% 8.9% 2.0% 11.4% -3.6% 11.0% 12.0% -1.0% 14.8% 0.0% 17.7% -25.1% 34.8% 5.0% -8.0% 19.2% -0.3% 0.0% 9.6% -12.0% -0.1% -0.6% 0.0% 8.5% 12.0% -2.0% -10.5% 4.8% 10.7% 4.6% 0.0% 0.8% 2.0% -6.3% 11.1% -4.3% 11.6% 10.0% 1.0% 18.2% -9.0% 0.6% 41.9% 7.9%
33.3% -0.4% 25.9% 21.1% 1.1% 7.0% 23.3% 21.8% 18.5% 1.4% 14.6% 0.1% 5.0% -21.6% 2.1% 6.6% 29.4% 2.5% 17.6% 11.8% 13.8% 30.5% 13.7% 15.5% 14.8% 12.6% 15.0% -1.5% -4.1% 8.0% 22.8% 5.0% 3.1% 5.0% 12.0% 22.2% -0.1% 6.7% 11.9% 10.0% 0.0% 0.0% -14.6% 13.0% 14.6% 0.7% 9.3% 15.7% 9.3% 15.8% 7.0% 11.0% 1.0% 9.7% 10.8% -3.1% 6.8% 10.5% 10.9% 18.0% 9.8% 17.0% 28.0% 0.9%
6.6% 9.2% 20.1% 2.1% 4.8% 0.2% 34.6% 6.1% 2.5% 0.1% 0.2% -1.1% 1.4% 0.2% 1.0% -9.9% 20.8% -3.4% 16.9% 24.2% 22.6% 2.8% -0.6% 3.8% 14.9% 0.7% 0.0% 0.3% -1.7% 0.4% 22.9% -5.9% -31.6% 4.9% 7.4% 10.0% 0.9% 0.0% 5.0% 1.0% 1.3% -0.1% 9.4% -0.5% 3.5% 7.4% 13.9% 9.7% 11.1% 11.9% 1.7% 1.1% -1.0% 2.1% 17.9% -2.9% 24.2% 9.5% 2.0% 12.3% 0.0% 1.1% 13.5% 30.3%
3.6% 2.2% 15.6% 10.2% -8.4% 0.7% 49.0% 12.3% -0.2% 0.0% 2.3% -1.6% 4.0% 0.0% -10.7% -16.2% 15.6% -0.5% 23.7% 3.4% 3.0% 2.9% 2.6% 1.8% 13.8% 0.0% 0.0% 0.1% 32.8% 2.6% 3.9% 0.0% 1.4% 4.0% 0.1% -5.0% 0.0% 1.0% 3.8% 9.8% 1.3% -6.8% 12.7% 1.5% 4.0% 20.1% 209.3% 14.0% 32.6% -5.0% 2.6% 2.7% 3.9% 22.7% 26.8% -1.0% -20.3% 12.9% 0.8% 2.9% 0.5% 3.7% 7.5% 7.3%
10.1% 6.9% 3.8% 16.8% 7.1% 8.6% 1.9% 9.1% -0.9% 1.1% 0.0% 3.8% 4.3% -7.7% 8.6% 29.3% -37.7% 6.7% -11.1% -5.0% 3.3% 8.1% 6.6% 12.6% 3.0% 3.5% 0.1% 0.0% 7.7% 3.0% 9.0% 3.9% 20.3% 35.0% 0.0% 10.4% 12.7% 11.0% 6.6% 7.7% 3.0% 0.5% 101.3% 13.0% -3.7% 14.1% 23.8% 2.3% 16.3% 16.2% 35.0% 2.8% 3.5% 14.1% -28.2% 4.0% 12.0% 1.6% 7.4% 9.0% -12.0% 10.0% 12.8% 7.4%
-0.2% 0.4% 0.1% 1.6% 0.2% -1.1% 15.4% 25.6% 6.9% 2.5% 2.7% -35.7% -1.7% 0.6% 3.8% -25.6% 0.0% -0.2% -8.5% -1.1% -11.3% 1.6% 0.3% 2.3% 0.0% 7.8% 1.1% 0.0% 0.0% 0.0% -10.0% 2.6% 0.0% -2.2% 0.1% -5.9% -0.1% -0.1% -1.2% 4.0% 0.0% 0.0% -0.1% 1.6% 0.1% -9.3% 39.6% 14.3% -4.7% 44.6% -7.2% 1.7% 1.6% 3.7% -16.1% 2.4% 4.9% -0.4% -2.5% 0.0% -2.4% 0.0% 2.4% 9.9%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 105.0% 0.0% 0.0% 0.0% -19.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% -100.0% 0.0% 0.0% 0.0% 3.4% 0.0% 0.0% 0.0% 74.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% -12.4% 0.0% 0.0% 0.0% 0.0% -100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% -6.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% -1.5% 0.0% 0.0% 0.0%
8.3% 0.0% 8.3% 8.3% 8.3% 8.3% 8.3% 8.3% 0.0% 8.3% 0.0% 0.0% 0.0% 0.0% 0.0% 8.3% 0.0% 8.3% 0.0% 0.0% 0.0% 8.3% 8.3% 8.3% 0.0% 0.0% 8.3% 0.0% 8.3% 8.3% 0.0% 8.3% 8.3% 8.3% 0.0% 8.3% 8.3% 8.3% 8.3% 8.3% 0.0% 8.3% 8.3% 0.0% 8.3% 0.0% 0.0% 0.0% 8.3% 0.0% 8.3% 0.0% 8.3% 0.0% 8.3% 0.0% 0.0% 8.3% 8.3% 0.0% 0.0% 8.3% 8.3% 8.3%
3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
19.2% 4.2% 22.1% 12.5% 4.1% 4.0% 27.7% 13.7% 14.4% 4.3% -9.2% 3.1% 3.3% -3.1% 1.7% 2.9% 23.4% 6.6% 17.6% 14.2% 16.4% 21.8% 7.0% 9.1% 12.0% 8.7% 10.2% -0.9% 2.2% 5.1% 21.3% 3.0% -0.8% 6.1% -3.9% 15.6% 4.2% 5.3% 6.0% 5.8% 0.5% 2.4% 6.0% 7.1% 4.9% 5.4% 7.4% 11.0% 12.3% 14.1% 12.1% 5.3% 5.4% 5.9% 9.8% -0.8% 10.5% 9.9% 5.4% 16.1% 2.5% 7.1% 11.8% 8.5%
WEIGHTED AVERAGE
17.0%
20.8%
17.5%
10.9%
10.1%
-1.3%
-14.1%
8.3%
3.0%
16.7%
